State of Oregon General Obligation
Bonds Various Series - 2018

Oregon

Invest in Oregon while earning tax-exempt income! Bond proceeds will support various projects including capital improvements, affordable housing program, and facility replacement for the Department of Forestry. See the summary below and read the Preliminary Official Statement under "Documents" for full details.


Issuance characteristics
  • Contains callable maturities
  • Mixed tax
  • General Obligation
  • Negotiated sale

About this bond issuance

  • Purpose

    Bond proceeds will support various projects including capital improvements, affordable housing program, and facility replacement for the Department of Forestry. See the summary below and read the Preliminary Official Statement under "Documents" for full details.

  • Issuer

    State of Oregon

  • Authority

    The 2018 Series A Bonds are being issued under authority granted by Article XI-Q of the Oregon Constitution and applicable provisions of Oregon Revised Statutes ("ORS") chapter 286A, as amended. The 2018 Series C Bonds are being issued under authority granted by Article XI-M of the Oregon Constitution and applicable provisions of ORS chapter 286A, as amended. The 2018 Series D Bonds are being issued under authority granted by Article XI-N of the Oregon Constitution and applicable provisions of ORS chapter 286A, as amended.

  • Security

    The 2018 Bonds are direct general obligations of the State, and the full faith and credit and taxing power of the State are pledged to pay the principal and interest on the 2018 Bonds when due. The ad valorem taxing power of the State is not pledged to pay the 2018 Bonds.

  • Special attributes

    Certain 2018 Series A,B,C & D Bonds are subject to optional redemption prior to maturity.

    Series A & B: 5/1/2028 at Par

    Series C & D: 6/1/2028 at Par

  • Sale conditions

  • 2018 Series A, C, D

    Definition of Retail Order:

    1) Individual Retail Order: Individual retail is defined as an order placed for the account of an individual. Individual Retail Orders in excess of $500,000 are subject to review and approval by the Book-Running Senior Manager, the State and PFM. The term "individual" does not include bank trust departments, investment advisors or money managers, including separately managed accounts ("SMA"), acting on behalf of an individual nor does it include bank portfolios, insurance companies, bond funds, or municipalities.  

    2) Professional Retail Order: Professional retail is an order placed by a bank trust department, investment advisor or money manager, including SMAs, acting on behalf of an individual. The term "professional retail" does not include bank portfolios, insurance companies, bond funds, or municipalities. Takedown from professional retail orders under $1,000,000 will go directly to the member who placed the order while takedown from professional retail orders in excess of $1,000,000 will be distributed on a group net basis based on the liability split of each syndicate member.

    Retail Order Period Order Priority:

    1. Oregon Indiv Retail  (50% max in aggregate for Oregon/Professional/National Retail)
    2. Oregon Prof Retail   (50% max in aggregate for Oregon/Professional/National Retail)
    3. National Retail      (50% max in aggregate for Oregon/Professional/National Retail)

  • 2018 Series B (Taxable)

    Definition of Retail Order:

    Definition of Retail Order: 1) Individual Retail Order: Individual retail is defined as an order placed for the account of an individual. Individual Retail Orders in excess of $500,000 are subject to review and approval by the Book-Running Senior Manager, the State and PFM. The term "individual" does not include bank trust departments, investment advisors or money managers, including separately managed accounts ("SMA"), acting on behalf of an individual nor does it include bank portfolios, insurance companies, bond funds, or municipalities.

    Priority of Orders:

    1. Oregon Indiv Retail  (50% max for Oregon Retail)
    2. Net Designated      (except if an investor is affiliated with a syndicate member in which case the investor will not be required to designate the firm. Please contact the senior manager.)

Ratings

Ratings

AA+

S&P

Aa1

Moody's

AA+

Fitch

Financing team

Neighborly Securities
Neighborly is a selling group member on this issuance.
Underwriters
Municipal Advisors
Bond Counsel
Paying Agent